Wirtschaftswissenschaftliche Fakultät



Capital market financing has recently become increasingly important for German companies. Many large companies are forced to draw on the global capital market to raise the necessary funds. But many small and, above all, young, fast-growing companies also make use of the capital market. With the increasing capital market orientation of German companies, the relationship between the company and the other market participants also plays an increasing role. The long-term success of the company depends on its ability to identify new investment opportunities, but also on the ability of investors, such as shareholders or banks, to assess these opportunities. It is therefore of fundamental importance not only to obtain information about investment opportunities, but also, in particular, to credibly communicate the relevant information about the company to the capital market. The latter requires an understanding of the functioning of (capital) markets, especially with regard to the information processing processes taking place there.

The investors use the communicated information as a basis for their investment decisions. To this end, they analyse the information provided using business management methods of stock analysis, company valuation and rating. As a result, investors only provide long-term capital to companies that meet their expectations. This includes both the expected return and the risk associated with the investment.

In order to meet investors' expectations, the company's strategies must be aligned and implemented accordingly. This requires the creation and maintenance of the company's own earning power. An integrated and balanced corporate development as a prerequisite for stable returns and the hedging of business risks relies on the expansion of strategic potential for success (taking into account diverging interests of stakeholders if necessary) and the maintenance of a healthy asset and capital structure. Both investment planning and the company's earnings and liquidity situation require ongoing planning, management and control within the framework of corporate controlling, whereby internal analyses of the asset, financial and earnings situation are used to support decisions. With regard to capital market orientation, controlling systems must be established in the company that support investor-oriented decision-making, which is often also referred to as value-oriented controlling. At the same time, incentive systems must be created to encourage management to act in the interests of the owners. On the other hand, alternative accounting options and various forms of corporate communication (investor relations) influence the decision-making process on the capital market.

Financial and information flows are thus directly interrelated. Due to the increasing importance of capital market communication, the need for experts with relevant interface skills is expected to grow rapidly. The aim is to provide future decision-makers and managers with a holistic view of the interaction between companies and the capital market. In combination with elective courses of other chairs, a targeted preparation for a variety of individual job profiles can be achieved. Possible specialisations are banking, controlling, financial analysis, tax consultancy, management consultancy, auditing.

Translated with www.DeepL.com/Translator